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Food Innovators Holding Limited

Food Innovators Holdings Limited ("FIH" or the "Company") is offering 14m shares at $0.22 each, for which 13m shares will be through placement and the remaining 1m shares via a Public Offer. The IPO will close on 14 Nov at 12 noon and starts trading on 16 Oct 9am.  FIH has two business models - the first is to be a master lease and sublease the space to other tenants and the second is to operate and manage restaurants.  The Company currently has 12 restaurants in Japan, 10 in Singapore and 4 in Malaysia. The market cap based on the IPO price is around $24.9m. Financial Highlights FIH's revenue grew from $37.8m in FY2022 to $43.8m in FY2024. It is quite funny to see that being a master land lease holder has a higher margin than operating the restaurants, once again illustrating the point that it is better to be a landlord to shake leg and collect rent. According to the prospectus, the PER is around 19x. The Company intends to pay 20% of its net profit after tax a
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T2026 - S$ Temasek Bond - Balloting Results

Temasek announced that it will upsize the bonds offering to S$500m and the public offering was upsized to $250 (as mentioned in my post). The final subscription rate based on the enlarged offering for the public offer is around 2.6x.

The allocation table is below. Investors who applied for 13,000 and less received what they applied for. Investors who applied for $100,000 or more at least get a more decent allocation of $30,000 this time. 




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